Côte d’Ivoire and DRC removed from FATF grey list

The Financial Action Task Force (FATF) has officially removed Côte d’Ivoire and the Democratic Republic of the Congo (DRC) from its grey list of jurisdictions under increased monitoring. The decision was formalized during the FATF plenary meeting held from October 28 to 30.

The FATF noted that both nations made significant progress in addressing strategic deficiencies related to anti-money laundering, countering the financing of terrorism, and countering proliferation financing. This follows successful on-site visits and the completion of action plans within the required timeframes.

Côte d’Ivoire implemented various institutional and regulatory reforms, including strengthening international cooperation for investigations and improving risk-based supervision of financial institutions and designated non-financial businesses and professions. The DRC also received commendation for its corrective measures.

Alongside Côte d’Ivoire and the DRC, Bulgaria and Monaco were also removed from the list. The FATF indicated that these jurisdictions will continue to collaborate with regional bodies, such as GIABA for Côte d’Ivoire, to maintain their improved systems.